 "Rupee futures at Dubai exchange grow 21% in December")
Indian Rupee futures grew 21% from last month, while mini Indian Rupee futures rose 69% at the Dubai Gold and Commodities Exchange (DGCX) during December last year.
The currency segments at the exchange led the year-on-year growth trading 897,116 contracts, an increase of 25% from December 2013.
Indian Rupee Futures, which recorded the third highest Average Daily Open Interest during the month of December, grew 21% from the same period last year while the Mini Indian Rupee Future grew 69%.
Gold trading volumes on the DGCX reached 41,945 contracts in December, registering a significant growth of 14% year-on-year.
In December last year, DGCX volumes witnessed a growth of 25% from the same period last year, recording total monthly volume of 962,438 contracts valued at $27.84 billion.
The Exchange's average daily volume grew 19% year-on-year reaching 45,830 contracts in December.
The year 2014 saw DGCX further diversifying its product portfolio with the introduction of several new contracts. Early in the year, DGCX launched the region's first ever Plastics contract.
The Exchange ended the year on a high note, launching three new currency contracts - Russian Ruble Futures, Korean Won Futures and South African Rand Futures.
"In 2014, DGCX made a big push to further expand its emerging market currency and index based-products and also introduce unique products such as the Plastics Futures.
"The Exchange also upgraded its technology to provide additional functionalities and enhanced efficiencies to the member community. The upgrade also made it possible for DGCX to offer trading, clearing and settlements in different currencies, including UAE Dirhams," Interim CEO of DGCX Gaurang Desai, said.
"In 2015, our aim is to further grow our member community and introduce more innovative contracts starting with the spot gold which will be launched early this year. In addition, we are also looking at listing more currency, equity and soft commodity related products," said Desai.
The currency segments at the exchange led the year-on-year growth trading 897,116 contracts, an increase of 25% from December 2013.
Indian Rupee Futures, which recorded the third highest Average Daily Open Interest during the month of December, grew 21% from the same period last year while the Mini Indian Rupee Future grew 69%.
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The DGCX's metals segment recorded a 16% increase year-on-year while the hydrocarbon sector and the equity indices segment grew 45% and 95% respectively, the exchange said in a statement.
Gold trading volumes on the DGCX reached 41,945 contracts in December, registering a significant growth of 14% year-on-year.
In December last year, DGCX volumes witnessed a growth of 25% from the same period last year, recording total monthly volume of 962,438 contracts valued at $27.84 billion.
The Exchange's average daily volume grew 19% year-on-year reaching 45,830 contracts in December.
The year 2014 saw DGCX further diversifying its product portfolio with the introduction of several new contracts. Early in the year, DGCX launched the region's first ever Plastics contract.
The Exchange ended the year on a high note, launching three new currency contracts - Russian Ruble Futures, Korean Won Futures and South African Rand Futures.
"In 2014, DGCX made a big push to further expand its emerging market currency and index based-products and also introduce unique products such as the Plastics Futures.
"The Exchange also upgraded its technology to provide additional functionalities and enhanced efficiencies to the member community. The upgrade also made it possible for DGCX to offer trading, clearing and settlements in different currencies, including UAE Dirhams," Interim CEO of DGCX Gaurang Desai, said.
"In 2015, our aim is to further grow our member community and introduce more innovative contracts starting with the spot gold which will be launched early this year. In addition, we are also looking at listing more currency, equity and soft commodity related products," said Desai.